The number of accounts with more than one million XRP has increased by 3.7% as 30 new whales have appeared in the past two weeks, according to the distribution table of the Santiment holders.
These investors now have an XRP between $ 240,000 and $ 2.4 million, which has added to price pressure.. After some rather uninspiring months, XRP saw a price increase of over 30% from $ 0.19 to $ 0.25 within 14 days. At least 30 major investors with deep pockets believe that the price increase will continue.
XRP holders distribution against the price. Source: Santiment
There is no obvious reason for the recent whale tide, except speculation. The token has claimed Tethers third place, but the company is also currently on trial and facing a class action lawsuit against investors..
Ripple was recently recognized in a bill by the United States Department of Financial Consumer Protection regarding cross-border payments. Earlier this week, Craig DeWitt, Ripple’s chief product officer, display a P2P payment platform based on XRP.
Large investors are turning to digital assets
In a new podcast with the Ripple CTO, David Schwartz, professor of economics and political science at the University of California, Berkeley, Barry Eichengreen suggested that investors generally turn to digital assets to respond directly to the threat of inflation after the pandemic:
“Some people believe that increasing liquidity in the market will lead to hyperinflation, and are looking for investment opportunities that can hold value if dollar prices rise. Gold has traditionally been seen as a safe bet, while digital assets are increasingly seen as a new hedge against inflation. “